ProFrac Holding reports Q1 revenue $581.5M, consensus $582.96M

Matt Wilks, ProFrac’s Executive Chairman, stated, “We are very pleased with our first quarter results, which demonstrate meaningful progress on the strategic initiatives we began emphasizing in the back half of 2023. ProFrac’s greater scale, utilization and efficiencies are demonstrated by lower costs and higher profitability. As we outlined on our previous earnings call and as shown by these results, we deployed a substantial number of fleets in a disciplined manner during the first quarter.”